EFCC: We invested N100bn of recovered from corruption cases in student loan, credit schemes
EFCC: We invested N100bn of recovered from corruption cases in student loan, credit schemes
EFCC: We invested N100bn of recovered from corruption cases in student loan, credit schemes
The Economic and Financial Crimes Commission (EFCC) says it invested N100 billion recovered from corruption cases in the federal government’s student loan and consumer credit schemes.
Wilson Uwujaren, the commission’s director of public affairs, spoke on Thursday while presenting “Two Years of the EFCC Under Olukoyede: A Mid-term Report” in Abuja to mark the second anniversary of Ola Olukoyede’s appointment as chairman of the agency.
Uwujaren said the EFCC’s recoveries in the past two years included N566.3 billion, $411.5 million, £71,306, €182,877, and several other foreign currencies.
“Part of the funds recovered by the commission in the last two years was invested in critical social investment programmes: the student loan scheme and the consumer credit scheme. A total of N100 billion of funds recovered by the commission was invested in these two schemes,” he said.
He added that several government agencies, including the Niger Delta Development Commission (NDDC), Asset Management Corporation of Nigeria (AMCON), Federal Inland Revenue Service (FIRS), and National Health Insurance Authority (NHIA), have also benefited from recovered funds.
Uwujaren said the commission has recorded 7,503 convictions between October 2023 and September 2025, describing the figure as “inspiring” and reflective of the EFCC’s renewed focus on accountability and integrity.
